Share Market Update: Domestic benchmark indices BSE Sensex and NSE Nifty tanked for the seventh consecutive session, crashing by over 4.7 per cent on Thursday on the backdrop of fall in their international peers amid the ongoing invasion of Russia over Ukraine.
According to reports, S&P BSE Sensex slipped 2,702.15 points (4.72 per cent) to settle at 54,529.91, whereas the Nifty 50 tumbled 815.30 points (4.78 per cent) to close today's session at 16,247.95.
Both Sensex and Nifty traded in the red throughout the day after opening at around 3 per cent lower.
All 30 stocks on S&P BSE Sensex ended in red.
It is said to be the biggest single-day fall in Sensex stocks since March 2020.
Additionally, all sectoral indices of Nifty turned negative, with Nifty PSU bank declining the most at 8.3 per cent, followed by Nifty media and media at 7.2 per cent and 7.0 per cent, respectively.
Tata Motors, IndusInd Bank, UPL, Grasim Industries, and JSW Steel were among others were top index draggers, declining 10.7 per cent, 8.5 per cent, 8.3 per cent, 7.8 per cent, and 7.3 per cent, respectively.
"While the escalated war situation between Russia-Ukraine has led to sharp cuts in key equities across the globe, we believe crude trajectory will be the key to watch out for going ahead," Vijay Chandok of ICICI Securities told news agency IANS.
The bloodbath at Dalal Street took place on the backdrop of plunging global stocks and oil prices surging by more than USD 5 per barrel amid intensifying Ukraine crisis.
Experts believe that the crisis may also roil the global economy. Market benchmarks in Europe and Asia fell by as much as 4 per cent.
Even the rupee slipped 102 paise to close at 75.63 (provisional) against the US currency during the day as riskier assets took a deep hit after Russia's military operations.
Global oil benchmark Brent crude futures jumped 8.36 per cent to USD 104.94 per barrel.